Needham & Company Reiterates a 'Buy' on Echelon (ELON); Strong 3Q With A Peek Into Profitability; Outlook Remains Solid
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Price: $21.88 --0%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Needham & Company reiterates a 'Buy' on Echelon (NASDAQ: ELON) price target of $11.00.
Needham analyst says, "Overall, the ramps at Duke & Fortum (both N/R) remain meaningful to the story, but budding relationships with ELO & Holley (both N/R) could aid the medium-to-long term with margin-enhancing profiles. As the ELON model is exhibiting improvements, we are increasingly optimistic on ’12 profitability (despite an ECN order cancellation at Duke). Consequently, we reiterate our rating and target based on 2.7x our C12 revenue estimate of $173 million."
"Modifying estimates. Our Dec. forecast now $40M in revs. and loss of $0.13 (or, $0.06 ex. opt.), vs. our prior $39.7M and loss of $0.15 (or, loss of $0.07 ex. opt.). Our 2011 model modified to $156M and loss of $0.34 (or -$0.11) vs. prior $155M and loss of $0.45 (or, - $0.18)."
For more ratings news on Echelon click here and for the rating history of Echelon click here.
Shares of Echelon closed at $7.07 yesterday.
Needham analyst says, "Overall, the ramps at Duke & Fortum (both N/R) remain meaningful to the story, but budding relationships with ELO & Holley (both N/R) could aid the medium-to-long term with margin-enhancing profiles. As the ELON model is exhibiting improvements, we are increasingly optimistic on ’12 profitability (despite an ECN order cancellation at Duke). Consequently, we reiterate our rating and target based on 2.7x our C12 revenue estimate of $173 million."
"Modifying estimates. Our Dec. forecast now $40M in revs. and loss of $0.13 (or, $0.06 ex. opt.), vs. our prior $39.7M and loss of $0.15 (or, loss of $0.07 ex. opt.). Our 2011 model modified to $156M and loss of $0.34 (or -$0.11) vs. prior $155M and loss of $0.45 (or, - $0.18)."
For more ratings news on Echelon click here and for the rating history of Echelon click here.
Shares of Echelon closed at $7.07 yesterday.
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